Technological growth of Environmental Remediation in Market

The environmental remediation technology is used to eliminate contaminants such as volatile organic compounds, organic solvents, and heavy metals from soil and groundwater environmental mediums. The environmental remediation market is rapidly growing because of the increase in the demand for pollution control regulations. There is a growing adoption of bioremediation technology for removing or reducing contamination of soil and groundwater as it does not involve any equipment or inorganic chemical. The environmental remediation technology providers and contractors focus on the market dynamics to provide less expensive, highly accurate, and fast environmental remediation technologies, based on the level of contamination.

These players have implemented different strategies to maintain their position in this market and ensure their long-term growth and profitability. The strategy of contracts was adopted by many players to increase their technological portfolio and cater to diverse application areas. Strategies such as acquisitions, mergers, agreements and others (expansion, and awards) help companies to increase their market share, expand their geographic presence across the globe, and gain recognition in the environmental remediation market.

Clean Harbors Inc. (U.S.) is one of the leading providers of environment, energy, and industrial services such as aggregate, hazardous waste incinerators, landfills, and treatment facilities in North America region. The company also focuses on oil and gas cleaning services, so that the refined oil can be resell to the customers and generates revenue. The company provides its services mainly in the U.S., Canada, Mexico, and Puerto Rico. The company majorly offers environmental services for the oil and gas industry. The company has adopted the strategy of acquisition to achieve business growth. For instance, in April 2015, the company acquired Thermo Fluids Inc. (U.S.) for USD 85 million, a subsidiary of Nuverra Environmental Solutions, Inc. (U.S.). This acquisition strengthened its environmental services portfolio which includes oil recycling, used oil filter recycling, antifreeze products, parts washers, and solvent recycling.

Dredging, Environmental and Marine Engineering NV (DEME) (Belgium) is a private company which offers environmental dredging, remediation of contaminated soil and groundwater, rehabilitation of landfills, treatment and recycling of sediment and sludge, cleanup operations of brownfield sites, and erosion protection works under its environmental solutions segment. In September 2016, the company signed a contract worth with a French construction group Eiffage and Eiffage’s subsidiary RMT Clemessy. Under this, DEME group would help in the extension of the Freeport Terminal in Sierra Leone through soil improvement, reclamation, and compaction services.